What are the penalties for ESR non-compliance in UAE?

KPI Marketing

Last Update vor 2 Jahren

Non-compliance of ESR may attract some penalties. The penalties are:

• Failure to submit a Notification attracts a penalty of AED 20,000

• Failure to submit a Report attracts a penalty of AED 50,000

• Failure to demonstrate Economic Substance in the UAE attracts a penalty of AED 50,000 for the first time and a fine of AED 400,000 for second consecutive instance.

• Providing incorrect information also attracts penalties 

For more information on Economic Substance Regulations, visit Economic Substance Regulations page.

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